Meadowbank Healthcare Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09234124 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

Meadowbank Healthcare Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A S Cohen

REGISTERED OFFICE:

5 Spring Villa Road

Edgware

Middlesex

HA8 7EB

REGISTERED NUMBER:

09234124 (England and Wales)

ACCOUNTANTS:

Passer Chevern & Co

Chartered Accountants

5 Spring Villa Road

Edgware

Middlesex

HA8 7EB

FIXED ASSETS

Intangible assets

4

500,000

600,000

Tangible assets

5

1,874,701

1,874,881

2,374,701

2,474,881

CURRENT ASSETS

Debtors

6

566,080

454,946

Cash at bank

137,454

-

703,534

454,946

CREDITORS

Amounts falling due within one year

7

2,296,660

2,393,679

NET CURRENT LIABILITIES

(1,593,126

)

(1,938,733

)

TOTAL ASSETS LESS CURRENT LIABILITIES

781,575

536,148

PROVISIONS FOR LIABILITIES

14,479

19,666

NET ASSETS

767,096

516,482

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

767,095

516,481

767,096

516,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 January 2022 and were signed by:

A S Cohen - Director

1.	STATUTORY INFORMATION

Meadowbank Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Improvements to freehold

-

not provided

Integral Features

-

10% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

1,000,000

AMORTISATION

At 1 April 2020

400,000

Amortisation for year

100,000

At 31 March 2021

500,000

NET BOOK VALUE

At 31 March 2021

500,000

At 31 March 2020

600,000

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Integral

property

freehold

Features

£

£

£

COST

At 1 April 2020

1,517,545

195,275

80,000

Additions

-

30,632

-

At 31 March 2021

1,517,545

225,907

80,000

DEPRECIATION

At 1 April 2020

-

-

32,000

Charge for year

-

-

8,000

At 31 March 2021

-

-

40,000

NET BOOK VALUE

At 31 March 2021

1,517,545

225,907

40,000

At 31 March 2020

1,517,545

195,275

48,000

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

216,483

6,118

2,015,421

Additions

-

-

30,632

At 31 March 2021

216,483

6,118

2,046,053

DEPRECIATION

At 1 April 2020

106,034

2,506

140,540

Charge for year

22,090

722

30,812

At 31 March 2021

128,124

3,228

171,352

NET BOOK VALUE

At 31 March 2021

88,359

2,890

1,874,701

At 31 March 2020

110,449

3,612

1,874,881

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

45,529

25,395

Amounts owed by associates

519,051

429,551

Prepayments

1,500

-

566,080

454,946

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 8)

-

37,531

Amounts owed to associates

2,001,775

2,127,617

Tax

234,168

149,424

Social security and other

taxes

6,719

11,963

Directors' current accounts

13,198

-

Accrued exps & other creditors

40,800

51,626

Deferred income

-

15,518

2,296,660

2,393,679

8.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

37,531